Coinbase International Exchange

Perpetual Futures Product Specifications

BTC Perpetual Futures

Product

Bitcoin Perpetual Futures 

Product Type

Linear Perpetual (USDC-settled)

Expiration

Perpetual / no expiration

Underlying Market

BTC-USD

Base Currency

Bitcoin (BTC)

Contract Code

BTC-PERP

Acceptable Collateral/Margin

USDC

Settlement Asset

Settled every 5 minutes in USDC

Contract Multiplier

1

Tick Size and Value 

Min tick size: $0.10 per bitcoin

Min tick value: $0.10 per contract (i.e. 1 BTC x $0.10 per BTC = $0.10 tick value)

Displayed Price Example

$16,700

Trading Hours

24 hours/day, 7 days/week, 365 days/year (excluding maintenance)

Minimum Order Size

10 USDC

Minimum Size Increment

0.0001 BTC

Maximum Leverage

5x (20% base initial margin)

Index Price

Derived via a BTC/USD Index price that updates every second.

ETH Perpetual Futures

Product

Ether Perpetual Futures 

Product Type

Linear Perpetual (USDC-settled)

Expiration

Perpetual / no expiration

Underlying Market

ETH-USD

Base Currency

Ether (ETH)

Contract Code

ETH-PERP

Acceptable Collateral/Margin

USDC 

Settlement Asset

Settled every 5 minutes in USDC

Contract Multiplier

1

Tick Size and Value 

Min tick size: $0.01 per ether

Min tick value: $0.01 per contract (i.e. 1 x $0.01 per ether = $0.01 tick value)

Displayed Price Example

$1,270.04

Trading Hours

24 hours/day, 7 days/week, 365 days/year (excluding maintenance)

Minimum Order Size

10 USDC

Minimum Size Increment

0.0001 ETH

Maximum Leverage

5x (20% base initial margin)

Index Price

Derived via an ETH/USD Index price that updates every second.

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